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Imageware financial results provide strategic runway: biometrics stocks wrap

Imageware financial results provide strategic runway: biometrics stocks wrap
 

Imageware revenues increased by 29 percent to $942,000 for the second quarter of its fiscal 2021 on increases from biometric products and maintenance, according to an earnings call led by CEO Kristin Taylor.

Taylor also introduced the company’s interim CFO Mike Shambach, who previously worked with Taylor at Qualcomm and joined Imageware in July.

The second quarter was characterized by progress working through “several major operational, technical and personnel related obstacles” for Imageware, according to Taylor.

Gross profit was up by 39 percent, at $807,000, and the company’s operational loss was $2.74 million, compared to $2.46 million in the same period a year ago, on higher expenses. The company also had its $1.6 million Payment Protection Program loan forgiven following the quarter’s end. Shambach said Imageware’s improved results and financial outlook give it the necessary “runway” to carry out its business plan.

Imageware has also reached a distributor agreement with mobile access control provider Alutel Technology, which is integrating Imageware’s biometrics into its solutions portfolio.

Next Biometrics updates share capital

Next Biometrics has declared its registration of new share capital based on the exercise of options.

The company has announced new share capital of NOK 91,680,763 (roughly US$10.66 million), made up of 91,680,763 with a nominal value of NOK 1.00 ($0.12).

FPC CEO optimistic

Fingerprint Cards revenues and gross margin are steadily increasing on a rolling 12-month basis as the company returned to growth, CEO Christian Fredrikson said in an investor presentation.

The company believes the total addressable biometrics market will reach approximately 4.7 billion units per year by 2026, most of it in the payments vertical.

Fredrikson reviewed the company’s strategy in payments, mobile devices, PCs and access control and IoT biometrics.

US Justice Department reviews Zoom-Five9 deal

Zoom’s acquisition of Five9 to add voice biometrics and contact center services has come under scrutiny from the U.S. Justice Department over ties between the video-conferencing giant and China, the Wall Street Journal reports.

A DoJ-led interagency panel known as ‘Team Telecom’ will investigate possible risks to national security or law enforcement interests. A letter from the DoJ requested the Federal Communications Commission hold of on approving the deal until the investigation has been completed.

The Journal reports that Zoom still believes that it will receive regulatory approval for the deal by the first half of next year, though a proxy advisory firm recommended Five9 shareholders vote against the acquisition.

Zoom’s connections to the Chinese government and data storage practices are under investigation in New York and California.

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